Australia, NZ dlrs extend gains, market prices for recovery

australia nz dlrs extend gains market prices for recovery

Sumary of Australia, NZ dlrs extend gains, market prices for recovery:

  • By Wayne Cole3 Min ReadSYDNEY, Oct 14 (Reuters) – The Australian and New Zealand dollars edged higher on Thursday as a pullback in longer-term Treasury yields undermined their U.S. counterpart, while the Aussie extended its rally on the yen to a three-month peak.
  • The currency easily weathered data showing Australia suffered a drop of 138,000 jobs in September, with markets betting on a quick recovery now that stay-at-home restrictions are being unwound.
  • ”The rapid pace of vaccinations is one reason investors have recently wagered the Reserve Bank of Australia (RBA) will hike interest rates well before its favoured time frame of 2024.Three-year bond yields have shot up in the last couple of weeks to the highest since March last year at 0.59%.

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